Dow Jones hits record high 30,000 points, Australian shares to lift

Australian shares are set to rise as Wall Street’s industrial index hit a record high on bets of a quick economic rebound.

The Dow Jones index topped 30,000 points for the first time ever due to COVID-19 vaccine euphoria and the removal of political uncertainty, after US President Donald Trump authorised a transition of power (without explicitly conceding).

ASX futures were up 36 points (+0.5pc) by 6:45am AEDT.

The Australian dollar jumped (+0.9pc) to 73.52 US cents.

“Investors are getting optimistic about the coming six months,” said Mike Zigmont, head of trading and research at Harvest Volatility Management in New York.